Cash Flow Sweep Period definition

Cash Flow Sweep Period has the meaning set forth in the Existing Property Loan Agreement.

Cash Flow Sweep Period. Means the following periods of time: (i) the period from the date hereof to the Cash Flow Reserve Initial Termination Date, and (ii) the period from the occurrence of a Cash Flow Sweep Trigger Event to the occurrence of a Cash Flow Sweep Satisfaction Event.

Cash Flow Sweep Period shall commence upon the occurrence of (i) an Event of Default or (ii) the commencement of a Low Debt Yield Period; and shall end if, (A) with respect to a Cash Flow Sweep Period continuing pursuant to clause (i), the Event of Default commencing the Cash Flow Sweep Period has been cured and such cure has been accepted by Agent (and no other Event of Default is then continuing) or (B) with respect to a Cash Flow Sweep Period continuing due to clause (ii), the Low Debt Yield Period has ended pursuant to the terms hereof.

Examples of Cash Flow Sweep Period in a sentence

• In addition, Borrower shall not make any distributions to partners, members or shareholders during any Cash Flow Sweep Period or during period of time in which an Event of Default exists.

• So long as there is no Event of Default or Cash Flow Sweep Period continuing, the funds in the Clearing Account may be swept on a daily, weekly or monthly basis (as determined by Borrower) to the Borrower Operating Account.

• Upon the first (1st) calendar month in which a Net Cash Flow exists and at all times thereafter during any Cash Flow Sweep Period, Borrower shall deposit all Net Cash Flow accruing from the immediately preceding calendar month into the Cash Flow Reserve.

• Amounts so deposited shall hereinafter be referred to as the “Excess Cash Reserve Funds.” Provided no Event of Default has occurred and is continuing, sums from the Excess Cash Reserve Account shall be disbursed to Borrower upon a Lockbox Cash Flow Sweep Period Termination Event.

• Borrower shall deposit (or cause to be deposited) the Required Excess Cash on each Payment Date during any Lockbox Cash Flow Sweep Period into the Excess Cash Reserve Account.

More Definitions of Cash Flow Sweep Period

Cash Flow Sweep Period has the meaning given to such term in Section 4.16.

Cash Flow Sweep Period. As defined in Section 20.

Cash Flow Sweep Period means each of the following:

Cash Flow Sweep Period means the period commencing on the Cash Flow Commencement Date and ending on the date on which Borrowers deliver to Administrative Agent a Borrowers’ Certificate confirming that the Net Operating Income from the Properties was sufficient to yield a Loan Constant of not less than fourteen percent (14%) for the previous two consecutive Fiscal Quarters.

Cash Flow Sweep Period shall be deemed to commence upon the occurrence of an Event of Default.

Cash Flow Sweep Period has the meaning assigned in Section 6.2(b).

Cash Flow Sweep Period means (i) from the Payment Date in October 2017 until the Payment Date in October 2018, any period from (A) the conclusion of any Test Period during which the Debt Yield is less than 6.0%, to (B) the conclusion of any month thereafter during which the Debt Yield is equal to or greater than 7.0%, (ii) from the Payment Date in October 2018 until the Maturity Date, any period from (A) the conclusion of any Test Period during which the Debt Yield is less than 7.0%, to (B) the conclusion of any month thereafter during which the Debt Yield is equal to or greater than 8.0%, and (iii) any period during the continuance of a Mezzanine Loan Event of Default (and if those financial reports required under Sections 5.12 and 5.13 that are required to calculate Debt Yield are not delivered to Lender within five (5) Business Days after Borrower receives written notice of Borrower's failure to timely deliver such reports, a Cash Flow Sweep Period due to a Debt Yield test failure shall be deemed to have commenced and be ongoing, unless and until such reports are delivered and they indicate that, in fact, no Cash Flow Sweep Period due to a Debt Yield test failure is ongoing).